Healthcare Industry News: metabolic disease
News Release - September 28, 2006
Plexxikon Appoints Chief Financial OfficerBERKELEY, Calif.--(HSMN NewsFeed)--Plexxikon Inc. today announced it has recently expanded its executive team with the appointment of Fletcher Payne to the position of vice president and chief financial officer. Mr. Payne will be responsible for finance, accounting, facilities and information technology.
"With the expansion and advancement of Plexxikon's development stage portfolio of high value opportunities in metabolic disease, oncology and inflammation, the addition of Fletcher to our management team is an important appointment to support the future growth and the financing needs of our business," said Kathleen Sereda Glaub, president of Plexxikon Inc. "Fletcher's experience with start-up, mid-size, and Fortune 500 companies in raising capital, executing strategic transactions, restructuring businesses and managing operations, will further ensure that we maximize shareholder value."
Mr. Payne joins Plexxikon from Rinat Neuroscience, where he was vice president of finance, responsible for all aspects of accounting, finance, information technology, operations, investor relations and facilities. He successfully led the finance negotiations and integration activities during Pfizer's acquisition of Rinat. Prior to Rinat, Mr. Payne held a variety of senior finance and treasury positions at Dynavax Technologies, Cell Genesys, Sun Microsystems and IBM Corporation. He has experience with both private and public financings, as well as experience in other strategic financial transactions. Mr. Payne received his bachelor of science in business administration from the University of California Berkeley, Haas School of Business.
Plexxikon is a leader in the discovery and development of novel small molecule pharmaceuticals to treat human disease. Plexxikon's proprietary Scaffold-Based Drug Discovery(TM) platform is being applied to build therapeutic franchises in metabolic and cardiovascular disease, inflammation and oncology. This discovery process integrates a number of state-of-the-art technologies, including structural screening as one key component that provides a significant competitive advantage over other drug discovery approaches. To date, the company has discovered a portfolio of clinical and preclinical stage compounds in each of these franchises.
Currently, the company's most advanced program is a PPAR pan-agonist for the treatment of diabetes and related cardiovascular complications, with the lead candidate now in Phase 2 clinical testing in collaboration with Wyeth Pharmaceuticals. Other programs include a dual kinase inhibitor for the treatment of rheumatoid arthritis and a B-Raf inhibitor for the treatment of cancer. Plexxikon is seeking pharmaceutical and biotechnology partners for select collaboration opportunities. For more information, please visit www.plexxikon.com.
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